These Are the Costs Associated With Selling a Home

Selling a house is a significant undertaking, but reward is generally high. When it's all said and done, you'll have a decent sum of money in your bank account, and you will be able to move on with your life. 

There are costs associated with selling a home that you will need to consider before committing to selling. Much of the money you will need to spend, however, is technically an investment in selling your home quickly and for a good price.

If you are wondering what these costs are, you're in the right place. We have compiled a list of some of the items the seller should account for when it comes to selling a home.

Read on so you aren't left with surprises when it comes time to put your house on the market. 

Realtor Fee 

Hiring a realtor is a worthwhile investment for many homeowners because it takes the pressure to sell the house off of the seller. Once a realtor is hired, they will organize showings and deal with the necessary paperwork.

When you work with a realtor to sell your home, that person earns a commission on the final sale price of the house. In general, the seller will pay the realtor between five and six percent of that final price. 

Repairs

Before putting your house on the market, it is often advisable to do some home repairs that will increase its value.

An outdated kitchen or bathroom, leaky faucet, or paint that could use a makeover are things to consider before selling your home. Updating these aspects of a house can significantly increase resale value, making them worthwhile investments.

Pre-Sale Inspection

Although this is not required, it is often one of the worthwhile costs associated with selling a home. A pre-sale inspection will reveal anything wrong with the home that the buyer's inspector will likely find at some point down the line.

You can choose to fix the problems that the pre-sale inspector uncovers or not. Regardless, it will provide information about your house that will be good to know because the buyer's inspector will probably pick up on the same problems. If there are problems, the buyer might demand a lower price on the house to compensate for the repairs they will have to do once they move in.

Staging

Hiring a professional to set up your house in a way that will show off its best aspects is often a good way to inspire people to put in offers. When a house is set up in an inviting way and isn't cluttered, it will make a greater impression on prospective buyers and often even inspire a sale. The cost of staging will depend on things like the size of the house and its location.

Closing Costs

When a house is sold, there are closing costs involved. For the seller, these costs are usually between one and three percent of the sale price. 

The seller will also need to pay off the mortgage before finalizing the sale. Often, the sale price covers what is left of mortgage payments. 

A Summary of the Costs Associated with Selling a Home

The costs associated with selling a home make house sales a big undertaking. The most important thing to remember is that real estate selling fees will likely increase the value and how quickly it sells, which is often worthwhile in the end. 

If you are looking to learn about all the latest in the real estate industry, don't hesitate to check out our blog.